Meme coins have been leading the charge during the 2024 cryptocurrency bull market, experiencing significant gains of 100-200-300% or more in recent months. But starting in mid-March, this trend took a turn as the overall crypto market experienced a sharp downturn, causing many of these coins to plummet in value.
It appears that another shift may be imminent with a more optimistic outlook, as the four top-achieving cryptocurrencies among the current top 100 alternatives stem from the meme coin category.
Earlier reporting from CryptoPotato indicated that Bitcoin reached a new peak at $65,000, and the majority of larger alternative cryptocurrencies experienced a rise of approximately 6-7%.
Despite other larger altcoins, Shiba Inu stands out as the top gainer, surging by an impressive 18% or more in just one day. Consequently, it has advanced to rank 12th by market capitalization and boasts a value above $0.000027.
On the other hand, smaller-cap meme coins such as BONK have seen significant growth. For instance, BONK, which is built on the Solana blockchain, has experienced a remarkable increase of 41%, pushing its price above $0.000021.
PEPE comes in third place today with a remarkable 20% surge, while FLOKI trails behind as the second-biggest gainer, experiencing a significant gain of 25%.
In just one day, the total value of all meme coins combined has grown by 11.5%, bringing their market capitalization to nearly $57 billion according to CoinGecko’s data.
In an interesting turn of events, Bitcoin experienced its fourth halving approximately 24 hours ago, which traditionally marks the beginning of a bull market for cryptocurrencies. However, this time around, experts caution that the impact of the halving may be diminished compared to previous cycles.
Despite the halving, meme coins have emerged as the top performers so far.
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2024-04-21 12:02